Agenda
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Day 1
November 19, 2024
Networking Breakfast and Registration
Theo IkonomouChief Compliance OfficerKEB Hana Bank Canada
Katherine RutaChief Compliance OfficerEquitable Bank
Vladimir ShatiryanPartnerBlakes
In January 2024, the Office of the Superintendent of Financial Institutions (OSFI) released the Integrity and Security Guideline. This guideline outlines amplified expectations for managing risks related to foreign interference, undue influence, and both physical and electronic threats – ensuring robust security and compliance across institutions. Topics of discussion will include:
- Assessing compliance and mitigating risk per OSFI guidelines
- Overseeing institutions’ adherence and identifying foreign interference
- Ensuring responsible leadership and protecting against threats
- Mitigating undie influence and managing operational and cyber risks
- Detecting red flags and optimizing risk management practices
Networking Break
Alana BarnesDirector, DigitalCanadian Bankers Association (CBA)
Suzanne BlanchardSenior CounselManulife
This session will explore upcoming guidance and developments in the Consumer-Driven Banking Framework, with new legislation expected in the fall of 2024. Topics of discussion will include:
- Ensuring secure access for customers to share their financial data with financial service providers
- Protecting Canadians and the financial system from risky practices like screen-scraping
- Holding parties at fault for any damages or data breaches accountable and liable
- Enhancing focus on consumer protection frameworks and effective complaint handling mechanisms
- Implementing governance oversight and management of the framework
- Safeguarding the integrity and national security of the framework
- Establishing, maintaining and overseeing of technical standards flow of data between Canadians and the financial tools
Stephen CheesemanHead, Legal and ComplianceIllustrate Inc.
Ruzanna ShatiryanDeputy Chief Compliance OfficerAlterna Savings Bank and Credit Union
Sudhanshu BahadurGlobal Head of Technology, Global Asset ManagementBMO Financial Group
Nick BrayHead of Sales, AmericasCUBE
Join this session to hear from experts on Bill C-27, the proposed amendments to the Artificial Intelligence and Data Act (AIDA), set to become law by 2025. Explore how Bill C-27 will reshape existing laws, including PIPEDA and the Consumer Privacy Protection Act (CPPA), and what these changes mean for data privacy and AI governance. Topic of discussion will include:
- Predicting how Canada’s privacy protection regime meets the “Adequacy” test with the European Commission and what could happen if we lose the status
- A look at the broad adoption of AI/ML across regulated institutions
- What is are the latest developments in future legislation – the Artificial Intelligence and Data Act (AIDA) – Bill C27
- Understanding the new legal framework
- OSFI looking at its model risk guidance, including AI
- How are FIs applying AI and ML to their business processes?
Networking Lunch
Payments Regulation and Law: Preparing for Retail Payment Activities Regulations (RPAR) for Payment Service Providers (PSPs) in Canada
Emiel-Johan van der VeldenHead, Depositor Solutions, Insurance & ComplianceCanada Deposit Insurance Corporation (CDIC)
Wendy MorganDirector, Enforcement, Retail Payments SupervisionBank of Canada
Prepare for the new RPAR in Canada by arming Payment Service Providers (PSPs) with critical insights and strategies to ensure full compliance with the latest regulatory requirements, facilitating smooth adoption and continued success in the dynamic payments sector. Topics of discussion will include:
- Enabling faster, more efficient transactions under an updated payments system and regulatory framework
- Preventing fraud and boosting transaction oversight and security through real-time payments
- Anticipating changes from the proposed Retail Payment Activities Regulations under the Retail Payment Activities Act, and their effect on payment service providers
- Predicting how the changes will foster increased competition and innovation in the financial services sector
Networking Break
Safiya AdenekanChief Compliance Officer - CanadaCash App & Afterpay
Join this session as industry leaders address the complexities and best practices of terminating client relationships while maintaining regulatory compliance, risk management, and other ethical considerations. Topics of discussion will include:
- Ensuring institutions understand their obligations
- Ramifications of severing a business partnership
- Navigating ethical implications with greater confidence and clarity
Industry Benchmarking Roundtable
Mastering Third-Party Risk: Assessing Inherent Money Laundering and Terrorist Financing Threats
Jessica KimDirector, Third Party Risk ManagementSun Life
Karen CreenCAMLO and Senior Compliance ManagerBank of China, Toronto Branch
Eric BrockChief Operating OfficerPNC Bank Canada Branch
Join industry leaders to benchmark best practices for mitigating third-party risks. This roundtable will discuss evaluating and managing inherent threats of money laundering and terrorist financing, providing actionable insights to strengthen your compliance and risk management strategies. Topics of discussion will include:
- Clarifying and meeting the risk assessment criteria
- Updating existing arrangements made before May 1, 2024, or at the earliest appropriate contract renewal, to meet the expectations of the Guideline
30th Anniversary Champagne Toast and Sponsored Networking Cocktail Reception
Day 2
November 20, 2024
Networking Breakfast and Registration
Denise T. Carson, CFE, ACAMS, CPA, CMAChief Compliance Officer,
BMO Global Asset Management
Legal, Regulatory Compliance & Procurement
BMO Financial Group
Nancy SullivanFounderIslington Consultants Inc.
Mario Alejandro Matiz ZambranoGlobal Incident Responder, Cyber Problems and Operations ReportingScotiabank
New for CI’s 30th Anniversary! Join smaller group discussions designed to facilitate the exchange of experiences and lessons learned in the FI compliance sector. Facilitators will guide conversations to uncover the latest best practices. Choose your preferred table topic and feel free to move between discussions for a comprehensive learning and networking experience!
Table One: Fostering a Culture of Compliance and Behaviour
- Anticipating OSFI’s Culture and Conduct Guidelines
- Ensuring whistleblower programs are supported
- Overcoming organizational challenges
- Promoting compliance best practices
Table Two: Strengthening Your Customer Complaints Handling Process
The Financial Consumer Protection Framework (FCPF) under the Bank Act offers important and evolving protections to customers of banking services.
- Resolving complaints within 56 days
- Providing an appeal process for complaints
- Regularly communicating the existence and effectiveness of your whistleblowing program to employees, stakeholders, and the public
Table Three: Enhancing Cybersecurity and Data Privacy Measures
- Implementing OSFI’s Guideline B-13
- Preparing for the impact of Bill C-27
- Strengthening cybersecurity frameworks and incident response plans
Punit DwivediSenior Cyber Security Delivery ConsultantCIBC
Dr. Jianjian Jin, PhDAssociate Director, Quantitative ResearchUniversity Pension Plan
Jared SiddleDirector of Risk, North AmericaProtecht Group
Kuno TuckerChief Compliance OfficerManulife Securities
Discover the transformative power of the AI Act, the world’s first comprehensive AI legislation, provisionally agreed upon by European institutions in December 2023. This session will explore how this groundbreaking law can guide and enhance AI implementation in Canada’s financial sector. Topics of discussion will include:
- Defining AI and Machine Learning and their alignment across sectors and nations
- Assessing AI risks to determine which systems require stringent governance
- Exploring the regulatory potential within Canada’s financial sector
- Ensuring robust governance, compliance, and innovation within the industry
Dwayne KingAML Compliance OfficerWFCU Credit Union
Joseph DixonSenior ManagerFINTRAC
Asya BoskovicSenior Manager, Financial Institutions UnitFINTRAC
New for CI’s 30th Anniversary! Hear directly from regulators and representatives who have navigated a FINTRAC exam, while diving into the critical – and often unexpected – steps taken to identify, communicate, and enhance compliance standards. Gain practical insights from real-world experiences to ensure your organization is fully prepared and complaint, avoiding penalties and improving your AML framework. Topics of discussion will include:
- Preparing for examinations and where financial institutions should put emphasis
- Exploring how FINTRAC is evolving with examining entities
- Examining what an audit can reveal about your organization and where improvements can be made observations from their regulatory examinations
- Identifying key risk areas, where are the most risks, the most deficiencies
- Anticipating what questions FINCTRAC can ask and what is an overreach
Networking Break
Asad RaufSenior Vice PresidentSBI Canada Bank
Imran AhmadPartner, Canadian Head of Technology and Canadian Co-Head of Cybersecurity and Data PrivacyNorton Rose Fulbright Canada LLP
Cybercrime is increasing unabated. Join this panel as speakers discuss OSFI’s final Guideline B-13 – Technology and Cyber Risk Management, which became effective in January 2024. Topics of discussion will include:
- Preparing for the impact of Bill C-26, an Act respecting cyber security, amending the Telecommunications Act and making consequential amendments to other Acts
- Meeting the expectations for OSFI’s final Guideline B-13 – Technology and Cyber Risk Management, including:
- Corporate Governance Guidelines
- Operational Risk Management
- Third-Party Risk Management
- Technology and Cyber Security Incident Reporting Advisory
- Cyber Security Self-Assessment tool
David CoffeyDetective, Financial Crimes UnitToronto Police Service
Dwayne KingAML Compliance OfficerWFCU Credit Union
Discover expert insights on the most FAQ about engaging forensic accountants and consulting firms, while learning the critical moments to seek professional help and the risks of waiting too long. Join industry leaders in this interactive session as they share proven tips on timing and maximizing the benefits of these essential services.
Networking Lunch
Sara Gelgor, LLB, LLM, MBA, ICD.D, GCB.D Grad. Dipl SRSSenior Director, Reconciliation and Human Rights”RBC
Sarah Morris LangManager, Social Equality Initiatives, Responsible InvestmentBMO Global Asset Management
Federally regulated financial institutions face growing regulatory, legal, and stakeholder expectations to prevent, mitigate and remediate adverse environmental and social impacts associated with their business activities.
The panel presentation will focus on human rights impacts and will provide an overview of the rising expectations from employees and shareholders and the foundation for human rights risks in international human rights law, including an introduction to the frameworks businesses can use to understand their relationship to impacts, obligations for identifying and addressing human rights risks and impacts in their own operations and value chains, how to prioritize efforts, and conduct due diligence. The panelists will share insights gained from experience leading human rights programs at financial institutions.
Nalini FeuilloleyHead, Responsible Investment (RI)BMO Global Asset Management
Delaney GreigDirector, Investor StewardshipUniversity Pension Plan
Sarah NevilleDirector, Policy DevelopmentCanadian Coalition for Good Governance
The focus on ESG disclosures is intensifying, with financial institutions now expected to integrate and report on ESG risks. Upcoming mandatory disclosure requirements are crucial. In this session, topics of discussion will include:
- Exploring the CSA Corporate Diversity Reporting Rule (2020) and its impact
- Aligning with regulations and conduct material assessments
- Collecting and reporting ESG data
- Learning from CSA’s ESG Reporting and Disclosure guidelines
- Assessing S-211’s impact on forced labor and child labor reporting
- Navigating CSA’s requirements for investment funds
Networking Break
Jeffrey SimserBarrister and Solicitor, Legal DirectorMinistry of the Attorney General
In May 2023, the Canadian government issued a series of new guidelines for cryptocurrency exchanges, including investor limits and mandatory registrations. Further to the joint statement released by Canada and other participating jurisdictions in November of 2023, Budget 2024 proposes to implement the framework of the Organisation for Economic Co-Operation and Development (OECD) for the automatic exchange of tax information relating to crypto-asset transactions, referred to as the Crypto-Asset Reporting Framework (“CARF”), in Canada. In this session, topics of discussion will include:
- Discussing tools and techniques to investigate and interdict crypto assets
- Exploring how reporting expectations are changing under the amendments to the Common Reporting Standard
- Determining how non-compliant companies will face potential enforcement action
- Reconciling when taxpayers engage in tax-relevant transactions, holds, or Relevant Crypto-Assets, as the CRS does not have adequate visibility
- Ensuring consistent domestic and international application and effective implementation of the CARF
What Happens to Your STR? Working with Investigators and Prosecutors when Filing Suspicious Transaction Reports
Gary ValiquetteAssistant Crown Attorney, Guns and Gangs Task ForceOntario Ministry of the Attorney General
Asad RaufSenior Vice PresidentSBI Canada Bank
Discover what happens when a bank files a Suspicious Transaction Report. Where does it go? Who sees it? What happens next and where are the gaps? Topics of discussion will include:
- Calculating reporting trends, including how many reports are filed, whether the report was warranted, and whether it was well-constructed
- Determining what is reasonable grounds and what does it look like in a financial crime context
- Examining the structure of an STR and how to comply the data requirements
- Exploring when there are, or are not actional results from an STR, regulator or criminal
- Debating the possibility of joint reporting by different financial institutions
- Disclosure expectations to other financial institutions
- Comparing reporting statistics and practices with international regimes